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The $6.7bn Chubb investment is an outlier in the Berkshire portfolio. -
Expense ratios modestly increase for commercial but continue to decline for personal lines.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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Workers’ comp releases continue to mask deteriorating reserves in 2023.
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Trends in IBNR might suggest over-optimism in carriers’ reserving outlook.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Joy had previously set up the casualty practice at Global Indemnity.
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Cove Street is 14th largest investor in Global Indemnity.
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Sources said that the E&S carriers are now poised to enter due diligence.
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Headwinds weigh on carrier results, but premiums and surplus remain mostly stable.
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He joins from Odyssey Re, where he was treaty underwriting VP.
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May and June takeout requests for Citizens are exceeding expectations.
